10-Q Filing

HOOKER FURNISHINGS CORP CIK: 1077688 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001185185-14-001570`
Period End Date	20140430
Filing Date	20140612
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	hoft-20140504.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 28 Cash Flow Statement 68 Comprehensive Income 10

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.24M	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.28M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.88M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.73M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $1,276 and $1,243 on each respective date	`AccountsNotesAndLoansReceivableNetCurrent`	$30.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.75M	shares	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $1,276 and $1,243 on each respective date	`AccountsNotesAndLoansReceivableNetCurrent`	$29.39M	USD	Point-in-time
Inventories	`InventoryNet`	$43.59M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.75M	shares	Point-in-time
Inventories	`InventoryNet`	$49.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.75M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.41M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.66M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.25M	USD	Point-in-time
Income tax recoverable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income tax recoverable	`IncomeTaxesReceivable`	$682.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$109.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$107.05M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$22.84M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$23.75M	USD	Point-in-time
Cash surrender value of life insurance policies	`CashSurrenderValueOfLifeInsurance`	$18.89M	USD	Point-in-time
Cash surrender value of life insurance policies	`CashSurrenderValueOfLifeInsurance`	$19.20M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$4.12M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$4.05M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$355.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$49.25M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$48.43M	USD	Point-in-time
Total assets	`Assets`	$158.56M	USD	Point-in-time
Total assets	`Assets`	$155.48M	USD	Point-in-time
Total assets	`Assets`	$155.48M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$8.69M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$7.08M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.48M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.81M	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesCurrent`	$142.00K	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$934.00K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$856.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$433.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$659.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$832.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$759.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.76M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$7.67M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$7.79M	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesNoncurrent`	$103.00K	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesNoncurrent`	$117.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$308.00K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$8.22M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$7.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.98M	USD	Point-in-time
Common stock, no par value, 20,000 shares authorized, 10,753 shares issued and outstanding on each date	`CommonStockValue`	$17.59M	USD	Point-in-time
Common stock, no par value, 20,000 shares authorized, 10,753 shares issued and outstanding on each date	`CommonStockValue`	$17.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$118.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$117.12M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$90.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$98.00K	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$134.80M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$136.58M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$155.48M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$158.56M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$61.40M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$56.30M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$42.38M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$45.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.92M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.68M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.37M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.23M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.24M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$46.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-32.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.29M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.20M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.49M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.13M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.76M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.75M	shares	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$584.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$613.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$8.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$34.00K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$353.00K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-5.00K	USD	1 Quarter
Noncash restricted stock and performance awards	`ShareBasedCompensation`	$135.00K	USD	1 Quarter
Noncash restricted stock and performance awards	`ShareBasedCompensation`	$229.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$125.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$75.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.76M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.43M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.37M	USD	1 Quarter
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-682.00K	USD	1 Quarter
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Gain on life insurance policies	`GainOnLifeInsurancePolicies`	$135.00K	USD	1 Quarter
Gain on life insurance policies	`GainOnLifeInsurancePolicies`	$126.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-237.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-832.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.62M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.88M	USD	1 Quarter
Accrued salaries, wages, and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-712.00K	USD	1 Quarter
Accrued salaries, wages, and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-673.00K	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.03M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$142.00K	USD	1 Quarter
Accrued commissions	`IncreaseDecreaseInAccruedLiabilities`	$-267.00K	USD	1 Quarter
Accrued commissions	`IncreaseDecreaseInAccruedLiabilities`	$-78.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-226.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$11.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$77.00K	USD	1 Quarter
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$45.00K	USD	1 Quarter
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$34.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$20.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.99M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$880.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.01M	USD	1 Quarter
Proceeds received on notes for sale of assets	`ProceedsFromCollectionOfNotesReceivable`	$14.00K	USD	1 Quarter
Proceeds received on notes for sale of assets	`ProceedsFromCollectionOfNotesReceivable`	$11.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$65.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Premiums paid on life insurance policies	`PaymentsToAcquireLifeInsurancePolicies`	$190.00K	USD	1 Quarter
Premiums paid on life insurance policies	`PaymentsToAcquireLifeInsurancePolicies`	$190.00K	USD	1 Quarter
Proceeds received on life insurance policies	`ProceedsFromLifeInsurancePolicies`	-	USD	1 Quarter
Proceeds received on life insurance policies	`ProceedsFromLifeInsurancePolicies`	$516.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-532.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.12M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.07M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.07M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.80M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.39M	USD	1 Quarter
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$26.34M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$31.69M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$23.88M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$28.73M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$26.34M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$31.69M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$23.88M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$28.73M	USD	Point-in-time
Income taxes paid, net	`IncomeTaxesPaidNet`	$-294.00K	USD	1 Quarter
Income taxes paid, net	`IncomeTaxesPaidNet`	$-2.12M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Amortization of actuarial gain, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$10.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Amortization of actuarial gain, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$5.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.13M	USD	1 Quarter
Amortization of actuarial gain net of tax of $5 and $10, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$17.00K	USD	1 Quarter
Amortization of actuarial gain net of tax of $5 and $10, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$8.00K	USD	1 Quarter
Adjustments to net periodic benefit cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$-17.00K	USD	1 Quarter
Adjustments to net periodic benefit cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$-8.00K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$2.11M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$2.80M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.